Lattice Semiconductor (LSCC) - Zacks #1 Rank Top Performers

However, what is good news for LSCC is the chip maker's inclusion on the Zacks #1 Rank Top Performers List for Monday with a gain of more than 3.5%.

Late April saw the company report its fifth straight quarter with a positive earnings surprise and its fourth straight quarter of revenue growth.

Lattice Semiconductor designs, develops and markets high performance programmable logic devices and related development system software. It is part of the electronic components - semiconductors industry, which appears to be growing in prominence on the Zacks #1 Rank List with 10 total stocks.

Other than LSCC, the other 9 are Applied Micro Circuits Corporation (AMCC), Atheros Communications Inc. (ATHR), Entropic Communications (ENTR), Hittite Microwave Corporation (HITT), Integrated Silicon Solution, Inc. (ISSI), O2Micro International Ltd. (OIIM), Rambus Inc. (RMBS), Spreadtrum Communications, Inc. (SPRD) and Volterra Semiconductor Corporation (VLTR).

Same Old Second Quarter

Lattice Semiconductor continues to expect revenue in the second quarter to increase by 6% to 10% sequentially. The company said this gain reflects continued growth across all geographies, major product families and end markets, and continued strength in its backlog throughout the quarter.

It also expects another quarter of profitability, which would be its third straight after breaking even in last year's third quarter.

At the moment, the Zacks Consensus Estimate for the second quarter is at 11 cents per share, which is up more than 80% from 2 months ago. (It's important to note that there are only 2 total estimates for the quarter, as well as for this year and next.)

Lattice Semiconductor originally offered this outlook during a solid first quarter performance, which included earnings per share of 10 cents that reversed a year-ago loss while also topping the Zacks Consensus Estimate by nearly 43%.

Revenue surged 63% from last year to $70.4 million. Specifically, revenue for field programmable gate arrays (FPGA) increased 51% year over year to $23.4 million, while revenue for programmable logic devices (PLD) surged 69% from last year to $47 million.

Earnings Estimates for Lattice Semiconductor

The Zacks Consensus Estimate for this year is 38 cents per share, which is up by 52% in the 2 months from 25 cents on 2 total estimates.

For next year, the Zacks Consensus Estimate is currently 32 cents, or 60% better than 2 months ago on the same number of estimates.

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